CEO’s Message

I am extremely proud to report that Credit Bureau Cambodia (CBC) has been recognized as one of the successful credit bureau models in the region. Our team has continued over the course of the past year to pursue our mission of helping lenders make informed decisions and minimize the risk through our various solutions.

CBC is a national project that contributes to the growth and the attractiveness of the Cambodian economy. With strong support from National Bank of Cambodia, Financial Institutions and all stakeholders, it allowed Cambodia to improve its ranking on “Getting Credit” in the World Bank’s “Doing Business” index, which is definitive proof of the bureau’s efficacy. I am very proud to highlight the tremendous milestones our business has seen in recent years, as CBC continues to build on our strengths, to develop new platforms and partners, and to grow with our customers and stakeholders. Now into our seven year of operations, CBC has continued to experience overall strong business performance through each fiscal year. Technology is the key for the bureau. We keep our main focus on ensuring data security and quality by making significant investments every year to adopt a system upgrade to ensure greater security within our system.

We closed 2018 with a total of 157 members including commercial banks, specialized banks, microfinance institutions, leasing companies, and rural credit institutions. The number of credit report applications reach to 4.7 million which show an increase by 13.5% compare to 2017. We are capturing more than 5 million consumers in our database representing more than 50% of adult population. We strategically focus on member satisfaction, empowering our users to flag issues with our platform; we then review all feedback and make necessary adjustments to our processes and services, in order to improve our interactions with members.

Late this year, we have introduced our Financial Health Check service by partnering with two financial institutions, ACLEDA Bank and AMK Microfinance, to broaden our reach to the general public, allowing them to request their own personal credit report at the select branches of both institutions. Another big project we have undertaken is the Commercial Credit Reporting System, which was successfully developed and began operations in early 2019.

We also believe in accelerating the growth of our business by increasing investment in our people and our development. We understand that if our employees enjoy their work, they can better serve us and our members, creating a win-win situation for all. We introduced several sessions of accredited training and development programs to improve the competence of our staff; we built a culture of continuous growth in every aspect of our business.

2018 saw CBC continue to set a strong foundation for the next phase of growth, ensuring the bureau is well positioned for the year ahead. We have a clear understanding of our direction and are focused on pursuing our vision of being the leading provider of decision making data in the Kingdom of Cambodia. I am very keen to lead the team in implementing our plans throughout the coming year. We will continue expanding our capabilities, with many key initiatives in place to roll out a variety of innovative and enhanced solutions to the market, each of which contribute to the stability of our industry growth and facilitate our members in meeting their ambitions. We will start with diversifying our data sources, including public and private sector data. We look forward to officially launching the Commercial Credit Reporting and expanding the financial health check service countrywide. In addition to better serve the general public, we will look into expanding our digital channels by introducing mobile apps that allow end consumer to request their own personal credit report.

Finally, I would like to take this opportunity to express my deepest gratitude for the valuable guidance provided by the members of the Board of Directors, as well as the regulatory bodies, particularly the National Bank of Cambodia (NBC), and also the International Finance Corporation (IFC), Association of Bank in Cambodia (ABC), and Cambodia Microfinance Association (CMA). I would also like to extend my deepest appreciation to our members and business partners for your continued trust and support. I wish to acknowledge all of our employees for their commitment, energy, and irrepressible drive to always improve our capabilities, pushing forward as one CBC team.

Oeur Sothearoath

Chief Executive Officer